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Global olefin market to reach USD 19.8 billion by 2024 according to new research report

Industrial Market Research

The global olefin market accounted for USD 14.5 billion in 2016 and expected to reach USD 19.8 billion by the end of forecast period i.e. 2024.

According to Goldstein Research, global olefin market is expected to reach USD 19.8 billion by the end of 2024 from USD 14.5 billion in 2016, growing at a CAGR of 4.8%. The growth of packaging industry and allied industries are driving the demand for olefin derivatives, used in the manufacturing of superior quality packages especially for the food and beverage industry and consumer goods industry.

Global Olefin market segmentation has been done on the basis of product type, application and geography.

Olefin is regarded as stain repellant and has high tensile strength, which is best applicable in manufacturing synthetic acids, detergent intermediates, polymers and lubricants.